Should You Sell Your House to Pay Debt During Layoffs?
The pricey leak you don’t see: selling costs vs. debt costs The pricey leak you don’t see during layoffs isn’t always the 22% credit card in your face. Sometimes it’s the decision to sell the house to “wipe the slate clean,” only to light tens of thousands on fire in transaction costs. I’ve watched more than a few smart people do this under stress. It feels safe. It isn’t always smart. Here’s what you’ll get out of this section: a clean tally of what selling really costs, a quick way to compare that to the actual carrying cost of your…